Prices edge higher amid apparent stall to Ukraine-Russia peace talks
NBP gas prices edged higher on Friday, with the NBP front-winter contract posting a net weekly gain of 6.7% amid an apparent stall in progress toward Ukraine-Russia peace talks.
Adding to the pressure pot, sharp curtailments in Norwegian supply offered underlying support to the curve, an influence likely to persist in the coming weeks, especially as any further disruptions may have an amplified effect on market sentiment.
Meanwhile, there is still no confirmed date or venue for the anticipated trilateral talks involving Russia, Ukraine, and the United States, despite recent expressions of optimism from Trump and Zelenskyy during last week’s NATO-Ukraine summit at the White House.
The UK baseload power curve continued to mirror increases on the NBP, with weak renewables serving as a secondary source of support.
A short-lived rebound in wind generation across the middle of the week ended abruptly, with data from National Gas showing that wind power averaged at 2.2GW across Friday, a stark 73.2% decrease in generation when compared to Wednesday, bolstering demand for gas-fired power generation over the same period.
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Price commentary courtesy of Crown Gas and Power 